Union Budget 2012-13 Highlights: Union Budget of India 2012-13

Union Budget for the year 2012-13 has presented by Finance minister Pranab Mujherjee on March 16,2012 for the coming financial year. While presenting the 2012-13 budget, Pranab Mujherjee said the growth of the Indian economy, estimated at 6.9 per cent during this fiscal year, was “disappointing”. At the same time, Finance Minister also said that the Indian economy was at the cusp of a revival, as agriculture and services had continued to grow at a decent pace. It was industrial performance that was acting as a drag.

Union Budget 2012-13 Highlights:

Policy Reforms:

To allow qualified foreign investors in Indian corporate debt markets

To allow external commercial borrowing to part finance rupee debt in power projects

Allow external commercial borrowing of up to $1 bln to raise working capital for airlines industry for 1 year